There is no pending proposal under consideration to set up new Benches of the National Company Law Tribunal (NCLT) or the National Company Law Appellate Tribunal (NCLAT), the Central government stated in parliament on Monday..Union Minister of State for Corporate Affairs Rao Inderjit Singh furnished the information in response to a parliamentary question in the Lok Sabha.The question asked the Central government whether it plans on setting up more Benches of the NCLT and the NCLAT, and the details of pending cases before them.The reply stated that such Benches are set up in a phased manner depending on workload and other factors.The NCLT currently has one principal bench and 15 other benches while the NCLAT has one principal bench and one other bench, the reply said."As of now no proposal to set up any new Bench of NCLT and NCLAT is under consideration. Apart from increase in number of Benches, Government is taking all necessary steps to augment capacity of NCLT, including multiple courts at heavily loaded benches, appointment of members from time to time to fill up the vacancies, implementation of e-court project, provision of requisite infrastructure, regular colloquiums for members, etc," the reply stated.21,089 cases are pending before NCLT benches as on January 31 this year, including 13,188 cases under the Insolvency and Bankruptcy Code (IBC), and 1,107 cases of Merger and Amalgamation (M&A), the reply added.4,656 cases have been put under resolution process and 470 resolution plans have been approved amounting to ₹2,95,744.84 crores, the reply revealed..[Read Reply]
There is no pending proposal under consideration to set up new Benches of the National Company Law Tribunal (NCLT) or the National Company Law Appellate Tribunal (NCLAT), the Central government stated in parliament on Monday..Union Minister of State for Corporate Affairs Rao Inderjit Singh furnished the information in response to a parliamentary question in the Lok Sabha.The question asked the Central government whether it plans on setting up more Benches of the NCLT and the NCLAT, and the details of pending cases before them.The reply stated that such Benches are set up in a phased manner depending on workload and other factors.The NCLT currently has one principal bench and 15 other benches while the NCLAT has one principal bench and one other bench, the reply said."As of now no proposal to set up any new Bench of NCLT and NCLAT is under consideration. Apart from increase in number of Benches, Government is taking all necessary steps to augment capacity of NCLT, including multiple courts at heavily loaded benches, appointment of members from time to time to fill up the vacancies, implementation of e-court project, provision of requisite infrastructure, regular colloquiums for members, etc," the reply stated.21,089 cases are pending before NCLT benches as on January 31 this year, including 13,188 cases under the Insolvency and Bankruptcy Code (IBC), and 1,107 cases of Merger and Amalgamation (M&A), the reply added.4,656 cases have been put under resolution process and 470 resolution plans have been approved amounting to ₹2,95,744.84 crores, the reply revealed..[Read Reply]